S&P ups Cores to A

S&P said it raised its unsolicited rating for Corporacion de Reservas Estrategicas de Productos Petrolíferos (Cores) to A from A-.

“We equalize our issuer credit ratings on Corporacion de Reservas Estrategicas de Productos Petrolíferos (Cores) with those on Spain because we think there is an almost certain likelihood that Cores would receive timely and sufficient extraordinary support from the Spanish government, if needed,” said S&P in a press release.

The outlook is stable.

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